HighTower Advisors LLC Purchases 95,686 Shares of Cipher Mining Inc. $CIFR

Key Points

• HighTower Advisors LLC increased its stake in Cipher Mining by 16.6% in the fourth quarter, buying 95,686 additional shares and bringing its holdings to 671,775 shares worth about $9.9 million.
• Insider selling has been notable, with Director Wesley Hastie Williams and CEO Tyler Page both selling shares recently; insiders have sold 258,965 shares worth $4.59 million over the last 90 days.
• Cipher Mining reported a mixed quarterly update, missing EPS and revenue estimates as revenue fell 28.8% year over year, though analysts still largely rate the stock a Buy with a consensus price target of $27.

HighTower Advisors LLC lifted its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 671,775 shares of the company's stock after acquiring an additional 95,686 shares during the quarter. HighTower Advisors LLC owned 0.17% of Cipher Mining worth $9,915,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company's stock worth $39,000 after acquiring an additional 804 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock worth $28,000 after acquiring an additional 1,286 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Cipher Mining by 26.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company's stock worth $104,000 after acquiring an additional 1,468 shares during the last quarter. DKM Wealth Management Inc. lifted its holdings in Cipher Mining by 15.1% during the 4th quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company's stock valued at $212,000 after buying an additional 1,886 shares in the last quarter. Finally, Sherman Asset Management Inc. bought a new stake in Cipher Mining during the 3rd quarter valued at about $25,000. Institutional investors own 12.26% of the company's stock.

Insiders Place Their Bets

In other news, Director Wesley Hastie Williams sold 14,567 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $21.41, for a total value of $311,879.47. Following the completion of the sale, the director owned 115,409 shares in the company, valued at approximately $2,470,906.69. The trade was a 11.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tyler Page sold 37,500 shares of the business's stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total transaction of $604,125.00. Following the completion of the sale, the chief executive officer owned 8,263,862 shares of the company's stock, valued at approximately $133,130,816.82. This represents a 0.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 258,965 shares of company stock worth $4,588,569. 2.63% of the stock is owned by corporate insiders.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $21.97 on Tuesday. Cipher Mining Inc. has a one year low of $3.08 and a one year high of $25.52. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The firm has a market cap of $8.99 billion, a P/E ratio of -9.43 and a beta of 3.13. The firm has a 50-day simple moving average of $17.34 and a 200-day simple moving average of $16.92.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The business had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. The business's quarterly revenue was down 28.8% on a year-over-year basis. Equities analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CIFR. Jefferies Financial Group began coverage on shares of Cipher Mining in a report on Thursday, May 14th. They set a "buy" rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. BTIG Research reiterated a "buy" rating and set a $25.00 price objective on shares of Cipher Mining in a report on Wednesday, May 6th. Cantor Fitzgerald decreased their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cipher Mining in a report on Friday, March 27th. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cipher Mining has an average rating of "Moderate Buy" and a consensus price target of $27.00.

Cipher Mining Company Profile

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.

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